KuCoin says user assets are unaffected by US SDNY indictment
The crypto exchange is the seventh largest by 24-hour trading volume.
The crypto exchange is the seventh largest by 24-hour trading volume.
KuCoin founders Chun Gan and Ke Tang remain at large, according to DOJ officials, who unsealed an indictment against the exchange on March 26.
The regulator ordered that Worldcoin cease collecting data from users in the country for 90 days, citing a high risk to citizens’ data protection rights.
While CBDCs might be the best option for those nations with existent currencies and mature banks, private stablecoins might help less advanced economies.
Scammers falsely guaranteed 70% profits on an investment of 1 billion South Korean won within a month and stole 5.5 billion won in six different transactions.
ARK Invest started dumping large amounts of Robinhood stock for the first time after aggressively buying HOOD shares last year.
“The case is just as strong as it was for spot #Bitcoin ETFs,” Grayscale’s chief legal officer Craig Salm wrote in a post on X.
According to CoinDesk, the U.S. Securities and Exchange Commission (SEC) is reportedly requesting a New York judge to impose a $2 billion judgment against Ripple Labs. The motion for judgment and remedies was filed on Friday and remains under seal to outside parties. Ripple Labs' chief legal officer, Stuart Alderoty, stated that redacted versions of the documents will be publicly available by Tuesday, March 26. The judgment would conclude this phase of the multi-year legal battle between Ripple Labs and the SEC, which started in December 2020 when the SEC sued the crypto firm and its executives for allegedly violating federal securities laws by selling XRP to both institutional and retail customers. The lawsuit led to the widespread delisting or trading suspension of XRP from U.S. exchanges. A federal judge ruled last year that Ripple violated federal securities laws in directly selling XRP to institutional investors, but not in selling XRP to retail investors through exchanges. Ripple Labs' CEO, Brad Garlinghouse, indicated in his X (formerly Twitter) post that the company will fight back against the proposed judgment motion. He wrote, 'The SEC plans to ask the Judge for $2B in a case that involved no allegations (let alone findings) of fraud or recklessness. There is absolutely no precedent for this. We will continue to expose the SEC for what they are when we respond to this.' Alderoty stated that the company will file its response to the SEC's motion next month. An SEC spokesperson declined to comment.
According to Cointelegraph: The SEC has commenced its civil trial against Terraform Labs, portraying the company as a 'house of cards' that led to investors losing significantly. The trial kick-started on March 25, following a lawsuit filed by the SEC in February 2023 against Terra and its co-founder, Do Kwon, for allegedly orchestrating a multi-billion dollar crypto asset securities fraud. Do Kwon did not appear in the courtroom on trial day one. Source: Reuters The SEC's allegation revolves around the supposed misleading of investors about the stability of TerraUSD (UST), an algorithmic stablecoin. Following its depegging from the U.S. dollar, Terra and other tokens faced a major dip, contributing to a significant market downturn in 2022 that resulted in multiple company bankruptcies. Originally slated to begin in January, the trial was delayed to March, awaiting Do Kwon's defense in person. Judge Jed Rakoff previously ruled in favor of the SEC over Terra's handling of unregistered securities and in favor of Kwon and his platform for offering and selling security-based swaps in December 2023. The Terraform trial marks one of many anticipated legal confrontations in the crypto sphere in 2024. Sam Bankman-Fried, FTX's former CEO, is set to be sentenced following his conviction on seven felony charges on March 28.
According to Foresight News, Circle's EU Strategic Policy Director, Patrick Hansen, has confirmed that the European Union has not banned self-hosted cryptocurrency wallets or trading. There is no such prohibition in place. However, using non-KYC self-hosted wallets for encrypted payments, such as to merchants, will be more difficult, depending on the merchant's setup. Previously, comments made by a member of the European Parliament were misinterpreted when confirming the approval of new EU anti-money laundering regulations (AMLR).